*The RUB-nominated figures are translated into USD at the official exchange rate quoted by the CBR for April 1,
2012 (USD 1.00 = RUB 29.33).

Alexander Savelyev, Chairman of the Management Board, commented on the Bank’s
1Q 2012 results:”Since last autumn, the negative impact of external factors on the Russian economy and banking
sector has increased significantly. As a result, the increase in cost of funding puts more pressure on a margin than
we forecasted. The impact of higher provisions on 1Q2012 profitability is in line with our expectations. In such
circumstances the Bank continues to adhere to conservative strategy and targets growth as the market
recovers”.

As at April 1, 2012, Bank Saint Petersburg was ranked 15th in terms of assets and 18th in
terms of retail deposits among the Russian banks (Interfax ranking). As at April 1, 2012, the number of cards issued
by the Bank exceeded 725 thousand; the Bank’s ATM network comprised of 515 units. Today, the Bank provides
services to about 1.2 million individuals and 37 thousand corporates. As at April 1, 2012, Internet-Bank was actively
used by 152 thousand clients.

Net income for 1Q 2012 amounted to
RUB 123.3 million. The Bank’s return on equity (ROAE) for 1Q 2012 amounted to 1.24%.

During 1Q 2012 the
Bank’s assets increased to RUB 340.7 billion (+3.2% compared with January 1, 2012; +20.6% compared with April 1,
2011).

Liabilities. As at April 1, 2012, customer accounts amounted to RUB 224.5 billion (-4.9% compared with
January 1, 2012; +12.2% compared with April 1, 2011). 60.7% of customer accounts belonged to corporate customers and
39.3% - to individuals. As at April 1, 2012, the share of wholesale funding in liabilities amounted to 6.5% (7.2% as
at January 1, 2012).

Equity and capital. As at April 1, 2012, the shareholders equity increased by 0.3% to RUB
40.1 billion compared with January 1, 2012. The Bank’s total capital amounted to RUB 46.5 billion (-1.2%
compared with January 1, 2012; +24.2% compared with April 1, 2011). As at April 1, 2012, the Bank’s Tier 1 and
total capital adequacy ratios were 10.0% and 13.5% respectively. On April 28, 2012, the Annual General Shareholders’
Meeting of Bank Saint Petersburg made the decision on dividend payment for FY 2011. Total payout amounts to RUB 817.8
million and will not significantly impact the Bank’s capital adequacy ratios.

As at April 1, 2012, Loan
portfolio before provisions amounted to RUB 232.1 billion (+0.4% compared to January 1, 2012; +8.7% compared with
April 1, 2011). Corporate loans constituted 92.9% of the loan book and amounted to RUB 215.7 billion, during 1Q 2012
their volume increased by 0.2%. Loans to retail customers amounted to RUB 16.4 billion (+2.3% compared with January 1,
2012).

Loan portfolio quality. As at April 1, 2012 the share of overdue loans in the Bank’s portfolio
amounted to 6.0% of the total volume of loans (5.7% as at January 1, 2012). The share of the corporate overdue loans
amounted to 5.9% of the total corporate loans (5.7% as at January 1, 2012); the share of the retail overdue loans
amounted to 6.6% of the total retail loans (6.2% as at January 1, 2012). As at April 1, 2012, impaired not past due
loans constituted 8.4% of the total volume of loans (6.6% as at January 1, 2012). Provision charge amounted to RUB 1.8
billion.

1Q 2012 IFRS Financial Statements are available on the Bank’s website.